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Today's Trading Strategies
January 6, 2023
 
   
 
GBP/USD   AUD/USD   Gold   USD/JPY   Nasdaq 100 (CME)   Dow Jones (CME)   GBP/JPY  
 
 
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
GBP/USD Intraday: key resistance at 1.1965.
 
Pivot:
1.1965
 
Our preference:
Short positions below 1.1965 with targets at 1.1870 & 1.1840 in extension.
 
Alternative scenario:
Above 1.1965 look for further upside with 1.2000 & 1.2040 as targets.
 
Comment:
Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
 
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AUD/USD Intraday: key resistance at 0.6795.
 
Pivot:
0.6795
 
Our preference:
Short positions below 0.6795 with targets at 0.6735 & 0.6715 in extension.
 
Alternative scenario:
Above 0.6795 look for further upside with 0.6820 & 0.6845 as targets.
 
Comment:
The upward potential is likely to be limited by the resistance at 0.6795.
 
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Gold Intraday: key resistance at 1843.00.
 
Pivot:
1843.00
 
Our preference:
Short positions below 1843.00 with targets at 1830.00 & 1824.00 in extension.
 
Alternative scenario:
Above 1843.00 look for further upside with 1850.00 & 1859.00 as targets.
 
Comment:
The RSI is mixed and calls for caution.
 
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USD/JPY Intraday: further advance.
 
Pivot:
132.90
 
Our preference:
Long positions above 132.90 with targets at 134.60 & 135.00 in extension.
 
Alternative scenario:
Below 132.90 look for further downside with 132.30 & 131.70 as targets.
 
Comment:
The RSI lacks downward momentum.
 
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Nasdaq 100 (CME)‎ (H3)‎ Intraday: turning up.
 
Pivot:
10805.00
 
Our preference:
Long positions above 10805.00 with targets at 10950.00 & 11060.00 in extension.
 
Alternative scenario:
Below 10805.00 look for further downside with 10760.00 & 10710.00 as targets.
 
Comment:
The RSI calls for a rebound.
 
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Dow Jones (CME)‎ (H3)‎ Intraday: up turn.
 
Pivot:
32980.00
 
Our preference:
Long positions above 32980.00 with targets at 33290.00 & 33430.00 in extension.
 
Alternative scenario:
Below 32980.00 look for further downside with 32750.00 & 32580.00 as targets.
 
Comment:
The RSI calls for a bounce.
 
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GBP/JPY intraday: rebound
 
Our pivot point is at 158.07.
 
Our preference:
Rebound.
 
Alternative scenario:
Below 158.07, expect 157.15 and 156.61.
 
Comment:
The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (158.92) but below its 50 period moving average (159.16).
 
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